Terms of the deal were not announced, though TechCrunch is hearing it was an all cash deal in the $15 million range. We contacted Omnisio co-founder and chief executive Ryan Junee, but he could not disclose anything about the deal at this time.

Omnisio works by allowing users to submit videos URLs from around the web. It then loads that video and allows you to do things such as crop it down to a certain length and merge it with other clips from around the web. This functionality previously worked with videos from YouTube, Google Video and Blip.tv, though it’s not clear that if with this new YouTube partnership companies like Blip.tv will be pushed out of the equation.